EU leaders to clash over bloc's next 7-year budget, seek new revenue sources
Leaders are divided over cuts to farm and cohesion spending as the Commission’s proposal would raise the budget to about €2 trillion and add new revenue sources.
- On Friday, European Union leaders began budget talks in Brussels centered on a revised Cypriot proposal that cuts €32.8 billion from the proposed €2 trillion spending package.
- Deep divisions persist between 'frugal countries' like Germany and the Netherlands, which oppose spending increases, and the 'Friends of Cohesion,' a coalition demanding more agricultural and regional funding.
- The European Parliament rejected the Cypriot plan as insufficient for agriculture and regional funding, while the European Commission proposes reducing such spending from around 60% of the current budget to 44%.
- Member states remain deadlocked over financing, with Italy, France, and Greece proposing 'rolling debt' to repay NextGenerationEU, though Germany and the Netherlands strongly reject this mechanism.
- Leaders aim to conclude the budget package by the end of 2026 to avoid extending negotiations, as any final deal requires unanimous support from all 27 member states.
71 Articles
71 Articles
At the Brussels Summit, the Heads of State and Government are arguing for the first time about the level of the future EU budget. Friedrich Merz is the main figure in the first act of the drama.
New own resources to fund the new EU multiannual budget are important for the financial balance, EU government leaders believe. The size of the new 2028-2034 budget is still fully under discussion, but everyone agrees that it must align with the EU's ambitions.
EU leaders set to clash over bloc’s next seven-year budget
European Union leaders headed for a clash over the bloc’s budget on Friday after both net contributors and beneficiaries criticised an initial proposal on what the EU should pay for from 2028 to 2034 – and where the money should come from. The EU budget is how the 27-member bloc finances all of its policies – from supporting farmers and developing new technology to student exchange programmes and equalising standards of living across member stat…
The leaders of the European Union have started negotiations this Friday to try to reach an agreement on the future budget of the bloc that should serve to finance Community policies, but the 27 are far from having a common position on the size, distribution and financing of it. Continue reading...
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